Jiangsu General Science Technology Co., Ltd. disclosed on Aug. 4 to construct the third phase all-steel radial tire project.
The project aims to build up intelligent, automatic production lines with investment of no more than 1.2 billion yuan. The scheduled capacity will be 1.2 million all-steel radial tires under full load.
The project is expected to last two to three years and to locate in the Hongdou Industrial Park, Donggang town, Xishan district, Wuxi, Jiangsu province.
According to the company, the operating revenue of the new project will be around 1.8 billion yuan, with net profit of about 100 million yuan.
The proposal has been approved by the board and is waiting for the approval of commercial authorities.
General Science Technology is a subsidiary of Hongdou Group.
It announced in Feb. that its passenger car radial tire project with capacity of 6 million tires will complete construction for operation in Dec..
